It may seem like a creepy invasion of privacy, but having a system to track everything from a customer's purchase history to birthday or how they heard about a product or service is integral to building and sustaining a business.

Customer Relationship Management, or CRM, systems help business owners organize information to maximize new leads, repeat sales, improve customer service, cut costs and integrate information from operations processes like e-commerce or web forms. But according to some experts, entrepreneurs often overlook the value in implementing such a system.

"A lot of small business owners see CRM as a cost and expense. But, if approached correctly, a CRM system can help you take your business to the next level," said Peter Wolf, president of CRM advisory firm Azamba Consulting Group.

An excerpt from Does Your Business Need Customer Relationship Management? by Cindy Vanegas. The full article is available at FOX Small Business Center.